Gold has been in a trading range which is closing in on one year. Based on past price history, this is not unusual as a 1.5 year consolidation period has been seen over the past decade bull market.
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1 year daily chart of the World Gold Index
Gold is trading under the 200 day moving average which is bearish. The 100 day ma crossed over the 200 day ma on 4/5/12 which is also bearish for Gold. This can also be seen as an accumulation point for those that believe that higher prices may be coming in the mid to long term. Over the past decade, Gold has not spent much time below the 200 day ma, we'll soon find out about the current market as May and summer is a few months away.
Here is a podcast interview from GoldSilver.com with Simon Black. He still sees the long term bull market in Gold heading higher and talks about the bubble that has been growing, debt and the debasement of fiat currencies. Also diversifying portfolios outside of the United States.
http://youtu.be/HnnTFfAOO4Y
S
1 year daily chart of the World Gold Index
Gold is trading under the 200 day moving average which is bearish. The 100 day ma crossed over the 200 day ma on 4/5/12 which is also bearish for Gold. This can also be seen as an accumulation point for those that believe that higher prices may be coming in the mid to long term. Over the past decade, Gold has not spent much time below the 200 day ma, we'll soon find out about the current market as May and summer is a few months away.
Here is a podcast interview from GoldSilver.com with Simon Black. He still sees the long term bull market in Gold heading higher and talks about the bubble that has been growing, debt and the debasement of fiat currencies. Also diversifying portfolios outside of the United States.
http://youtu.be/HnnTFfAOO4Y
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